-
作者：Engel, Charles
作者单位：University of Wisconsin System; University of Wisconsin Madison
摘要：The uncovered interest parity puzzle concerns the empirical regularity that high interest rate countries tend to have high expected returns on short term deposits. A separate puzzle is that high real interest rate countries tend to have currencies that are stronger than can be accounted for by the path of expected real interest differentials under uncovered interest parity. These two findings have apparently contradictory implications for the relationship of the foreign-exchange risk premium a...
-
作者：Munshi, Kaivan; Rosenzweig, Mark
作者单位：University of Cambridge; Yale University
摘要：We provide an explanation for the large spatial wage disparities and low male migration in India based on the trade-off between consumption smoothing, provided by caste-based rural insurance networks, and the income gains from migration. Our theory generates two key empirically verified predictions: (i) males in relatively wealthy households within a caste who benefit less from the redistributive (surplus-maximizing) network will be more likely to migrate, and (ii) males in households facing g...
-
作者：Das, Jishnu; Holla, Alaka; Mohpal, Aakash; Muralidharan, Karthik
作者单位：The World Bank; University of Michigan System; University of Michigan; University of California System; University of California San Diego
摘要：We present unique audit-study evidence on health care quality in rural India, and find that most private providers lacked medical qualifications, but completed more checklist items than public providers and recommended correct treatments equally often. Among doctors with public and private practices, all quality metrics were higher in their private clinics. Market prices are positively correlated with checklist completion and correct treatment, but also with unnecessary treatments. However, pu...
-
作者：Alonso, Ricardo; Camara, Odilon
作者单位：University of London; London School Economics & Political Science; Center for Economic & Policy Research (CEPR); University of Southern California
摘要：In a symmetric information voting model, an individual (politician) can influence voters' choices by strategically designing a policy experiment (public signal). We characterize the politician's optimal experiment. With a nonunanimous voting rule, she exploits voters' heterogeneity by designing an experiment with realizations targeting different winning coalitions. Consequently, under a simple-majority rule, a majority of voters might be strictly worse off due to the politician's influence. We...
-
作者：Adams, Renee B.; Kirchmaier, Tom
作者单位：University of New South Wales Sydney; University of London; London School Economics & Political Science
-
作者：Byker, Tanya S.
作者单位：Middlebury College
-
作者：Koch, Christoffer; Richardson, Gary; Van Horn, Patrick
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Dallas; Federal Reserve System - USA; Federal Reserve Bank - Richmond; University of California System; University of California Irvine; National Bureau of Economic Research
-
作者：Naik, Nikhil; Raskar, Ramesh; Hidalgo, Cesar A.
作者单位：Massachusetts Institute of Technology (MIT)
-
作者：Cockburn, Iain M.; Lanjouw, Jean O.; Schankerman, Mark
作者单位：Boston University; National Bureau of Economic Research; University of California System; University of California Berkeley; University of London; London School Economics & Political Science
摘要：Analysis of the timing of launches of 642 new drugs in 76 countries during 1983-2002 shows that patent and price regulation regimes strongly affect how quickly new drugs become commercially available in different countries. Price regulation delays launch, while longer and more extensive patent rights accelerate it. Health policy institutions and economic and demographic factors that make markets more profitable also speed up diffusion. The estimated effects are generally robust to controlling ...
-
作者：Arve, Malin; Martimort, David
作者单位：Norwegian School of Economics (NHH); Paris School of Economics
摘要：We characterize the optimal dynamic contract for a long-term basic service when an uncertain add-on is required later on. Introducing firm risk aversion has two impacts. Profits for the basic service can be backloaded to induce cheaper information revelation for this service: an Income Effect which reduces output distortions. The firm must also bear some risk to induce information revelation for the add-on. This Risk Effect reduces the level of the add-on but hardens information revelation for...
